Brooklyn Investment Group Sells 131 Shares of Atlassian Co. (NASDAQ:TEAM)

Brooklyn Investment Group trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 989 shares of the technology company’s stock after selling 131 shares during the period. Brooklyn Investment Group’s holdings in Atlassian were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TEAM. GAMMA Investing LLC grew its position in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the period. Legacy Wealth Asset Management LLC boosted its holdings in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after buying an additional 70 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares in the last quarter. Commerce Bank raised its holdings in shares of Atlassian by 1.8% during the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after acquiring an additional 90 shares during the period. Finally, Signaturefd LLC lifted its position in Atlassian by 4.8% in the 3rd quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock valued at $383,000 after acquiring an additional 111 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TEAM. Wells Fargo & Company increased their target price on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Cantor Fitzgerald began coverage on Atlassian in a research report on Friday. They issued a “neutral” rating and a $264.00 target price on the stock. Robert W. Baird upped their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Citigroup raised their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group boosted their price objective on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $272.00.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92. Following the transaction, the chief executive officer now directly owns 135,116 shares in the company, valued at $37,668,989.64. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 280,136 shares of company stock valued at $67,814,587. 38.55% of the stock is owned by insiders.

Atlassian Trading Down 0.7 %

TEAM stock opened at $252.36 on Friday. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The stock has a market cap of $65.72 billion, a price-to-earnings ratio of -166.03 and a beta of 0.83. The company has a fifty day moving average price of $256.36 and a two-hundred day moving average price of $202.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) EPS. Equities analysts anticipate that Atlassian Co. will post -0.55 EPS for the current year.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.